Sapient Capital LLC Grows Position in Devon Energy Co. (NYSE:DVN)

Sapient Capital LLC boosted its stake in Devon Energy Co. (NYSE:DVN) by 5.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 20,185 shares of the energy company’s stock after buying an additional 985 shares during the quarter. Sapient Capital LLC’s holdings in Devon Energy were worth $1,013,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Devon Energy during the 3rd quarter valued at $27,000. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy during the 1st quarter valued at $30,000. Manchester Capital Management LLC purchased a new stake in shares of Devon Energy during the 4th quarter valued at $28,000. Sound Income Strategies LLC increased its position in shares of Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after purchasing an additional 255 shares during the last quarter. Finally, Rise Advisors LLC increased its position in shares of Devon Energy by 1,365.3% during the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after purchasing an additional 669 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DVN has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price objective on shares of Devon Energy in a report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Piper Sandler lifted their price objective on Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Mizuho decreased their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.33.

Devon Energy Price Performance

Shares of DVN traded down $1.90 during trading hours on Tuesday, reaching $51.18. 7,266,168 shares of the company’s stock traded hands, compared to its average volume of 7,816,298. The stock has a market cap of $32.50 billion, a PE ratio of 8.78 and a beta of 2.19. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm’s 50 day simple moving average is $49.07 and its 200-day simple moving average is $46.22. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.66 EPS. Equities analysts expect that Devon Energy Co. will post 5.28 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.44%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.